The Trump administration may not be fond of FHA-insured mortgages – the president canceled a cut in. amount every month in rent that does not contribute toward building equity or an investment nest.The Federal Housing Administration (FHA) has been backing home loans for people with low credit scores and smaller down payments since the 1930s. Before applying for an FHA loan , you’ll want to know what those minimum requirements are, if you meet them and – if necessary – how to improve your credit score to qualify.